Attempting to regulate corporate executive compensation will never succeed at the local, state or federal level because corporations have the means and experience to tailor compensation schemes to meet their needs and in many cases influence the endless addition of legal loopholes. There is no limit the variety of ways executive compensation can be "characterized", to use an IRS term.
FDR's New Deal regulations regulated the BUSINESSES and INDUSTRIES such that executives could not legally execute risky schemes that enrich them at the expense of the rest of us. As New Deal regulations have been dumped during the past four decades, corporate executives have been able to game the system and execute schemes while no longer being subject to prosecution and imprisonment.
Until ALL New Deal regulations are restored with additional regulation tailored to the 21st century global economy, efforts to regulate executive compensation will have no better results than beating a dead horse.